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- USD Index Price Analysis: Sustained gains likely above 103.50
USD Index Price Analysis: Sustained gains likely above 103.50
- DXY navigates an inconclusive range around the 103.00 area.
- Further advances could retarget recent tops in the mid-103.00s.
DXY exchanges ups and downs around the 103.00 neighbourhood amidst a generalized range bound theme in the global markets.
There is room for further gains in the very near term, with the immediate up-barrier at the weekly high at 103.54 (June 30). The breakout of this level could open the door to a move to the May high at 104.69 (May 31), which appears reinforced by the 200-day SMA, today at 104.79.
Looking at the broader picture, while below the 200-day SMA the outlook for the index is expected to remain negative.
DXY daily chart
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